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αντικειμενική αξία ακινήτου

English translation: fair market value

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Greek term or phrase:αντικειμενική αξία ακινήτου
English translation:fair market value
Entered by: Alexandra Fakalou
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14:59 Jan 28, 2002
Greek to English translations [PRO]
Law/Patents
Greek term or phrase: αντικειμενική αξία ακινήτου
Βρήκα μόνο το "guiding value". Μήπως μπορείτε να μου το επιβεβαιώσετε ή να μου πείτε άλλη λύση;
Ευχαριστώ πολύ εκ των προτέρων :)
Alexandra Fakalou
Greece
Local time: 03:24
Fair market value (there is no "objective value", read below)
Explanation:
In the U.S. we do not use any "objective value". We use either "book value" (if an asset has a specific account on the balance sheet). The book value represents the current value minus depreciation.
However, in Greece, "αντικειμενική αξία" is a value set by the government (relevant department), which represents, in the government's opinion, the "fair market value" of the property. Fair market value is the one achieved when neither the seller, nor the buyer are under any pressure to proceed to the sale, ceteris paribus (all other factors equal), and when the market does not operate under extraordinary conditions or circumstances.
I have used the term "fair market value" in the past, in the context of securities trading, and the client (S&P 500 company) approved.
However, there is a chance that the market makers in Athens have developed another term, but I have heard of nothing "official" so far...
Hope I helped.

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Note added at 2002-01-28 19:48:18 (GMT)
--------------------------------------------------

I will also add that the Greek government gave much importance lately (last 20 years) to the \"αντικειμενικές αξίες ακινήτων\" in order to create a market measure with which transaction could be fair and adequate. The small size of the Greek markets and the small scale activity in the real estate market during the past decades in Greece (after the 70\'s) did not help in establishing a \"fair market value\" of any goods, commodities or securities. The institution of \"αντικειμενικές αξίες\" (even if they are determined and stipulated by the department of commerce and not an active secondary or primary market), was vital. The whole purpose was to create a similar to the US system (\"fair market value\" system), and government intervention at that stage was necessary, due to the inefficient size of the Greek markets (too small to create active price makers).
Selected response from:

Eleftherios Kritikakis
United States
Local time: 19:24
Grading comment
Ευχαριστώ πολύ!!! Με κάλυψες πλήρως!
Αλεξάνδρα
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +3Fair market value (there is no "objective value", read below)
Eleftherios Kritikakis
5guiding value
Betty Revelioti


  

Answers


28 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
Fair market value (there is no "objective value", read below)


Explanation:
In the U.S. we do not use any "objective value". We use either "book value" (if an asset has a specific account on the balance sheet). The book value represents the current value minus depreciation.
However, in Greece, "αντικειμενική αξία" is a value set by the government (relevant department), which represents, in the government's opinion, the "fair market value" of the property. Fair market value is the one achieved when neither the seller, nor the buyer are under any pressure to proceed to the sale, ceteris paribus (all other factors equal), and when the market does not operate under extraordinary conditions or circumstances.
I have used the term "fair market value" in the past, in the context of securities trading, and the client (S&P 500 company) approved.
However, there is a chance that the market makers in Athens have developed another term, but I have heard of nothing "official" so far...
Hope I helped.

--------------------------------------------------
Note added at 2002-01-28 19:48:18 (GMT)
--------------------------------------------------

I will also add that the Greek government gave much importance lately (last 20 years) to the \"αντικειμενικές αξίες ακινήτων\" in order to create a market measure with which transaction could be fair and adequate. The small size of the Greek markets and the small scale activity in the real estate market during the past decades in Greece (after the 70\'s) did not help in establishing a \"fair market value\" of any goods, commodities or securities. The institution of \"αντικειμενικές αξίες\" (even if they are determined and stipulated by the department of commerce and not an active secondary or primary market), was vital. The whole purpose was to create a similar to the US system (\"fair market value\" system), and government intervention at that stage was necessary, due to the inefficient size of the Greek markets (too small to create active price makers).


Eleftherios Kritikakis
United States
Local time: 19:24
Native speaker of: Native in GreekGreek
PRO pts in pair: 7
Grading comment
Ευχαριστώ πολύ!!! Με κάλυψες πλήρως!
Αλεξάνδρα

Peer comments on this answer (and responses from the answerer)
agree  Maria Nicholas: Well put.
20 mins

agree  Calliope76
1 day 6 hrs

agree  Egmont
340 days
Login to enter a peer comment (or grade)

6 hrs   confidence: Answerer confidence 5/5
guiding value


Explanation:
guiding value = αντικειμενική αξία ακινήτου

Είναι σωστό αυτό που βρήκες.

Betty Revelioti
Greece
Local time: 03:24
Native speaker of: Native in GreekGreek
PRO pts in pair: 214
Login to enter a peer comment (or grade)




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